On October 18, 2017, Lightspeed POS Inc. announced that it had closed a US$166 million (C$207 million) investment round. The series D round was led by Caisse de dépôt et placement du Québec (CDPQ) with an investment of US$136 million (C$170 million), and included participation from Investissement Québec, iNovia Capital and a credit line from Silicon Valley Bank.
Headquartered in Montréal, Lightspeed is the most powerful cloud-based point-of-sale solution for independent businesses, in-store and online. Nearly 50,000 retailers and restaurateurs, processing over US$15 billion in transactions annually use Lightspeed to grow and manage their business.
CDPQ is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2017, it held $286.5 billion in net assets.
Miller Thomson advised CDPQ with respect to this investment with a team that included Philipp Park, Louis-Philippe Borduas and Grégory Morin-Maltais.